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Fly News Breaks for August 13, 2019
Aug 13, 2019 | 07:58 EDT
Compass Point analyst Marshall Senk started Zendesk with a Buy rating and $100 price target.
News For ZEN From the Last 2 Days
Sep 18, 2019 | 08:45 EDT
Zendesk shares are down more than 10% since the company's Q2 results and down almost 20% relative to pre-earnings levels compared to the Russell 2000, which is roughly flat over the same period, William Blair analyst Bhavan Suri tells investors in a research note. The analyst, however, views the company's issues in the Asia Pacific, Europe, Middle-East and Africa, which he attributes to the stock selloff, as being isolated to specific countries and not an indication of a broader problem with Zendesk's value proposition or its overall execution. The pullback is overdone and has created a "great entry point" for investors looking to initiate a position in Zendesk or build on existing positions, Suri contends. He sees a good setup in the second half of the year and believes the stock will recover and exceed $100 over the next 12 months. Suri keeps an Outperform rating on Zendesk.